Actuarial Assistant

Saint Paul, Minnesota

Company Information
Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Summary
Applies actuarial concepts and analysis to assist in achieving the company objectives for solidity, profitability and growth. Depending upon area of assignment, may assist in the development of rates, rating plans, individual and large account pricing strategies, determining appropriate IBNR reserve levels, financial modeling, reinsurance treaties, planning and forecasting based upon interpretation of underwriting results. Provides functional support as directed. Responsible for routine projects (i.e., loss tracking, rate level maintenance); and providing functional support as assigned. This entry-level position requires direct supervision.

Primary Job Duties & Responsibilities
Pricing/Ratemaking/Reserving/Forecasting: Must understand basic pricing, reserving and forecasting techniques. Management Info: Generate and update routine reports as requested. Perform basic actuarial analysis. Gather and Assess reasonableness of data and identify discrepancies. Technology: May perform entry level programming in Excel, Access or company software. Research: Compile data as requested by supervisor. Project Mgmt: Participates in routine projects. Other duties as assigned.

Minimum Qualifications
Bachelors Degree or equivalent education required.

Education, Work Experience & Knowledge
College Degree in actuarial science, mathematics, economics, statistics, or other analytic majors preferred. 1+ year actuarial experience preferred. One or more actuarial exams preferred. Actuarial/Analytic related internship or prior work-related experience preferred. Strong verbal and written communication skills Demonstrated leadership abilities. Basic understanding of financial reporting, both GAAP and Stat. Basic understanding of insurance products and industry. Strong PC skills, Excel, Access, PowerPoint and Word.

Job Specific & Technical Skills & Competencies
Business Acumen Strategic Thinking: Demonstrate knowledge of key business areas, insurance products and business areas. Generate and implement new/novel approaches to problems/opportunities. ( Introductory) Critical Thinking: Approach problems rationally; solve problems while exhibiting judgment, reviewing facts and weighing options. Introductory) Analytic Expertise Data: Use data sources appropriately; construct appropriate data set for modeling and analyses; correctly apply database principles, data profiling and reconciliation. (Introductory) Actuarial Concepts: Perform reserving, pricing and rate adequacy analyses; applies reinsurance knowledge; demonstrate understanding of risk management. (Introductory) Modeling Concepts: Chooses appropriate modeling methodology; build models given data and appropriate modeling methodology; assess model fit using appropriate validation techniques; demonstrate understanding of how modes are implements/modeled. (Basic) Toolkits: Communicate technical concepts to non-technical audience; interpret results and connect them to the business; demonstrate tool skills including desktop and specific programming. (Introductory) Leadership Readiness Learning to Learn: Learn from mistakes; pursue and use feedback, persuade others in negative/positive circumstances; handle criticism effectively. (Basic) Learning to Lead: Demonstrate a strong commitment to the Company's success; understand the business beyond ones limited area, manage projects that deliver quality on time and add business value. (Introductory)

Physical Requirements
Operates standard office equipment. Sitting (can stand at will). Use of Keyboards, Sporadic 10-Key.

Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.
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About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.